Impact of China Overtaking the U.S. in Less Than 15 Years

Carrier and re-insurer Strategy? Will we be a National or Global Leader? With India forecast to overtake Germany and France into 3rd place in the global GDP stakes Asia Pacific (APAC) will be the largest region for consumer spending.

That brings all of European and North American insurers a big challenge. Technology and product innovation in Chinese insurance looks more lively and sustained than in the complacent Atlantic bordering nations. Add to that Amazon insurance acquisitions in India and Softbank investments there and you have a "perfect storm" brewing.

Whether you pursue a regional, national or global strategy these trends will impact you.

China is on course to be the world’s biggest economy by 2030, according to analysis that challenges Donald Trump’s claim that the U.S. is not about to be overtaken.
The forecast was made by economists at HSBC Holdings Plc in a new study of 75 nations published on Tuesday. It also saw the Chinese as remaining the single biggest contributor to global growth over the next decade.